Kaynes Technologies' shares drop 20% despite profit surge, due to lowered revenue forecast.
Despite reporting a 30% increase in revenue and a 47% jump in profit, Kaynes Technologies' share price fell by nearly 20% on the NSE. The company lowered its revenue forecast for FY25 to Rs2,800 crore due to delayed order execution. However, the company's EBITDA margin remained stable at 14.2%, and it plans to raise Rs1,600 crore through a Qualified Institutional Placement (QIP) to fund its expansion projects.
2 months ago
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